Corporacion Acciona Energias Renovables SA
ANE: XMAD (ESP)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€57.00 | Mct | Sbhsmdzg |
Acciona Energia Trading Statement: Fall in Power Prices Puts 2023 Guidance at Risk
We don't plan to materially change our EUR 35 fair value estimate after no-moat Acciona Energia released its first-quarter trading statement. Although the group confirmed its 2023 guidance, we see it at risk given the fall in wholesale power prices in Europe. Shares are in 3-star territory meaning there is not enough margin of safety to buy them.